Asian stocks ex-China keep losses amid Trump’s comments

Most major Asian indices prolong its losing streak into a third day this Wednesday, as yesterday’s massive gains in the yen versus the greenback continue exert downward pressure on the exports stocks, which in turn sent the Nikkei 225 index to fresh five-week lows.

Investors turn cautious ahead of the US President-elect Donald Trump's inauguration on Friday, with hopes of Trump’s fiscal spending plans already tempered, after he cautioned yesterday over a rising USD, particularly versus the Yuan. Trump’s comments, however, emerged positive for the Chines equities.

Alex Wong, a portfolio manager at Ample Capital, “Trump's comments on the dollar has helped relieve downward pressure on the renminbi and on Chinese equities and we have seen a steady pick up in capital flows from mainland investors into Hong Kong stocks." 

The Japanese benchmark, the Nikkei 225 index drops -0.30% to 18,758. The Australian benchmark, ASX 200 index drops -0.61% to 5,664 points. Mainland Chinese markets edge higher, with both Shanghai composite and Shenzhen’s CSI 300 index rising +0.20% and 0.46% respectively. Hong Kong's Hang Seng rallies +1.23% to 23,120.